Lending and digital payments startup BharatPe has bought loyalty platform Payback India marking it's first ever acquistion.
Paying over $25 million as per reports BharatPe has acquired Payback India from American Express & ICICI Investments.
Payback India - launched in 2010 - is a multi-brand loyalty programme with over 100 million members in the country.
BharatPe stated that "The acquisition of Payback India is in line with BharatPe's strategy to build a robust and engaged network of over 20 million small merchants by 2023."